Paypal Online Casinos
Paypal online casinos have three advantages:
- You don’t need to be prepared for strange questions from the house bank.
- The payments go as fast as the light.
- And everything is completely secure in the process.
Therefore, it is not surprising that more and more players are looking for the best Paypal casinos. After all, not everyone is happy when an embarrassed-looking bank clerk asks where these payments went and those came from when granting a loan. In addition, Paypal is much easier to use than having to laboriously enter the credit card number or start a bank transfer right away using IBAN, BIC and TAN together with a TAN generator.
Here at Casino-Okay you can find the best Paypal casinos in March 2024:
Casinos with Paypal
What many players at online casinos don’t know is that not every online casino allows Paypal. Paypal has always stood for security in payments on the internet. And so it is not surprising that Paypal selects the casino providers it works with very carefully.
This is primarily about financial security for Paypal. But also about not putting the Paypal brand name at risk from dubious casinos.
So Paypal subjects every online casino that wants to offer Paypal to a rigorous check. In the process, Paypal asks for data that might make one casino or another a little uncomfortable.
This includes not only full licences, but also a willingness to go beyond the normal level of customer service. Then, of course, Paypal also looks at the financial situation of the online casino to ensure that it will not have to deal with countless chargebacks.
Normally, Paypal also secures a portion of the revenue in an extra account. This ensures that even if customers and players claim back, it is not Paypal that pays the bill, but the online casino. Basically, Paypal wants to have as little to do with gambling as possible.
Nevertheless, there are just some providers on the market who are so reliable that even Paypal puts its good name at the disposal of these online casinos.
So you can be sure that Paypal casinos are not only controlled by the state supervisory authorities, but as an additional security Paypal also keeps a very scrupulous eye on the respective casino providers. So if a casino offers Paypal, this is a clear sign that the respective casino is reputable.
Fast casino payments in Paypal casinos
One of the biggest advantages of Paypal as a payment method in online casinos is certainly the lightning-fast payment. If you make a deposit via Paypal, the company makes an advance payment for you.
This means that as a Paypal customer, you are initially trusted. Paypal therefore sends money to the respective Paypal casino and subsequently debits this from your bank account or credit card.
It can take 2-3 working days for such a direct debit or the crediting of credit card funds to take place. However, the casino has long since received the money. Within seconds, the respective credit was made available to it by Paypal.
This way you can also start playing casino games immediately. So you don’t have to wait until the actual money is actually received from your bank account at the online casino.
Withdrawals work in much the same way. If you initiate a withdrawal via Paypal at an online casino, it is credited to your Paypal balance within seconds and directly after approval by the online casino.
You can then use it to make further purchases directly or to debit the money to your bank account. As more and more online businesses are accepting Paypal as a payment provider, it can be worth keeping the funds directly in your Paypal account and using them to make any online purchases.
So you can clearly see that with an eWallet like Paypal, lightning-fast deposits and withdrawals are possible. However, casinos usually check payouts again before they are actually initiated. It can therefore take up to 24 hours for withdrawals to be processed, even with Paypal.
This depends, however, on the respective online casino and its procedures and practices. Nevertheless, it can be stated that payments via Paypal in online casinos are among the quickest payment methods.
With Paypal, the house bank doesn’t get anything from the casino
Everyone who has ever been to a bank meeting to get a loan knows the situation. A bank advisor looks at the account a little more closely and checks whether there are any risks for the bank and what the client’s previous spending habits have been like. Although there is nothing wrong with sensible gambling in online casinos, banks still seem to have problems with it.
For example, if one spends GBP100.00 or more a month on lottery tickets, this is usually not a problem. However, if the bank sees that money is regularly transferred to an online casino, one has to be prepared for embarrassing enquiries.
It is therefore advisable to make sure that your bank does not find out about your gambling in the casino. Especially if you are planning to apply for a loan from the respective bank, for example, to buy a house or to lease a car.
To do this, you can simply deposit money from your bank account into the Paypal account. Because from the moment the money is in your Paypal account, your house bank doesn’t get to know anything about it. This saves you annoying and also embarrassing, unpleasant enquiries when granting a loan.
In addition, Paypal has its own banking licence. This was granted in the Poundspean member state of Luxembourg and protects you from credit losses just like your house bank. Not that this can be assumed when you look at the size of Paypal. After all, the company is active worldwide and carries out transactions in the billions.
Despite this, especially in uncertain times, it is good to know that your deposits with Paypal are secured. So you can also leave funds in your Paypal account for some time with a clear conscience.
Secure deposits and withdrawals at Paypal casinos
Paypal was founded with the idea of enabling secure payments on the internet in mind. And this is still one of the company’s guiding principles.
In addition, however, Paypal also has buyer protection. This protects buyers from some scenarios that can always occur in internet trade. For example, you are protected if a product deviates significantly from its description or if it is not delivered.
Beware, however, that this buyer protection is not available to online casino players. Of course, they are still covered if their account is proven to have been compromised by hackers.
However, they cannot of course claim that the casino games did not turn out as they would have liked. This makes sense, of course, since casino gambling is essentially based on winning once in a while and losing once in a while.
Continuous audits of Paypal casinos
Then another point, which has already been mentioned a little above. Because not every online casino can work with Paypal. Paypal places strong emphasis on which companies it works with. After all, the companies also use Paypal’s trademark when they advertise their products. This means that Paypal does not want its brand to be seen in the environment of less reputable business environments.
So if a casino wants to make PayPal available as a payment provider, that company is subject to a very stringent testing process. The company must be willing to deposit a large portion of its revenue into an extra account with PayPal, which will not be available to the casino for a while.
This way, Paypal protects itself from having to pay for any chargebacks and credit card chargebacks of the players. At the same time, Paypal analyses the structure of the online casino and asks in great detail about the business principles and procedures.
This helps determine whether the online casino is reputable . However, these checks do not end with an online casino offering Paypal. Rather, it is that these online casinos are constantly under the scrutiny of Paypal.
As PayPal does not want to forcefully partner with online casinos, it ensures that only the more reputable and established online casinos also get the privilege of offering Paypal as a payment provider.
As a player in a Paypal casino, you can therefore be sure that the casino has not only been tested by the regulatory authorities of the respective states in which the online casino has a gambling licence. But you can also rest assured that Paypal has not only once thoroughly tested the respective online casino. Especially in Paypal casinos you can therefore play with a very good conscience.
to such matters.
Paypal in casinos
Paypal was founded in 1999. The internet was still in its infancy and as commerce grew, it became increasingly important that online payments were reliable and secure.
It grew out of the union of two companies of Peter Thiel and Elon Musk. At the time, both companies fought over who would become the new contact point for internet payments. Initially, both providers only offered payment processing for the auction platform eBay. Peter Thiel’s company was much better known and more popular, but due to different advertising campaigns it did not make a profit and was on the verge of bankruptcy.
Musk’s company, on the other hand, was profitable but had a smaller customer base. The merger gave birth to a platform altogether that was profitable on the one hand and very well known and popular on the other. Soon they said goodbye to payments for internet auctions and became a general platform for payments on the internet.
Lastly, this ended with the internet auction platform eBay buying the company Paypal. Since 2015, the company has been an independent public limited company and no longer affiliated with the eBay Group.
Disadvantages of Paypal in casinos
The following are the biggest drawbacks of Paypal for payments at online casinos and in general.
High fees with Paypal
With Paypal, only the recipient of a payment ever pays. So for the payer, Paypal is always free. However, if you have a win from the online casino paid out to your Paypal account, you are the recipient. And therefore you have to pay a lump sum and a percentage levy of the transferred amount to the payment company.
And these transaction costs can be quite high relatively quickly, especially for higher winnings in online casinos. Paypal currently charges a flat rate of GBP0.35 plus a percentage of 1.7% of the transaction amount.
So, for example, if you win GBP1000.00 in an online casino and want to have this paid out to your Paypal account, you – as the recipient – pay a total of GBP17.35 for this. A bank transfer, on the other hand, would be free of charge for you.
Intransparent termination of business relationship
Some Paypal customers have also complained that Paypal may terminate the business relationship with a Paypal account under certain circumstances. In this case, Paypal retains the balance for 180 days.
The reason for this is that Paypal wants to protect itself from credit card chargebacks, which are normally possible for six months. However, one should of course make sure that one is prepared for this eventuality. Because Paypal usually keeps the reasons why the business relationship is no longer being continued under lock and key.
Therefore, do not rely on Paypal as your only payment method, but make sure that you always leave only your casino balance in the PayPal account. And, that even without this casino credit, you would be able to pay your accruing costs without any problems.
So it is the wrong idea to transfer your entire balance from your bank account to your Paypal account. But there is no need to mention this separately. After all, Paypal doesn’t pay interest either, which makes it a bad haven for money.
By the way, even if the business relationship is terminated, you will get your Paypal balance paid out after 180 days at the latest. It is important here that you contact Paypal again yourself. This is because the blocked money is not normally released automatically.
Disadvantages of Paypal in casinos
Paypal’s terms and conditions are also relatively opaque. In total, they comprise about 80 A4 pages and are so extensive that probably not a single user has ever read them completely.
This only led to a warning from consumer protection authorities in early 2018. According to the authorities, if you print these out on A4 pages, you end up with a length of 24 metres if you lay the pages end to end. Since then, Paypal has been revising its terms and conditions, but one has to keep in mind that Paypal is practically given a free hand.
So get ready for a wild west in payments. Paypal reserves the right to unilaterally terminate the business relationship without giving any reason. Transactions can also be reversed by Paypal on suspicion without your consent being required. Incidentally, the decision of Paypal applies to Paypal buyer and seller protection. So such a decision depends not least on the behaviour and competence of a Paypal employee.
Summary of Paypal in online casinos
Those who actually want their house bank to know nothing about their own casino play will also be happy to pay the costs of the transaction. However, there are also some alternatives here that are somewhat less expensive.
Personally, I would recommend that you use Paypal for online casino and possibly for your online shopping. Beyond that, however, Paypal is still somewhat unsuitable. Neither can transfers be made to IBAN accounts, nor can cash be withdrawn from an ATM. But this is also not the purpose of Paypal. You can therefore play with a clear conscience in an online casino that offers Paypal. However, make sure that you do not depend on this account.